Mortgage News
Complaints to Property Ombudsman shoot up 16.4%
The number of consumers contacting the Property Ombudsman to complain about property sales or lettings has jumped 16.4% on 2012.
There were 5,888 complaints between May and August 2013, compared to 5,057 in the same period of 2012, according to the Ombudsman’s interim report.
Enquiries involving property sales rose 29.2%, while those regarding lettings climbed 19.6%.
In the report, Property Ombudsman Christopher Hamer highlighted the importance of letting agents disclosing fees: “Disclosure of fees before the prospective tenant is committed to paying what can be a significant amount of money has to be a positive step.”
The number of cases in which the Ombudsman reached a final decision leapt 39% for lettings cases and 18% for sales.
Among the cases upheld included that of a couple seeking a buy-to-let investment who were not told of a clause in the property’s lease forbidding sub-letting. The Ombudsman awarded the couple of £795 including the solicitor’s fee, mortgage broker’s fee and the mortgage application fee.
What mortgage and protection advisers should take from the FCA’s AI stance
Sponsored by Sesame Bankhall Group